Global arms sales reached new heights, according to a recent report by a think tank in Sweden. Despite the global recession, the sales, both domestic and exports, of the world's most profitable arms-producing companies increased by nearly $15 billion from 2008 to 2009, reaching a total $400 billion in arms sales throughout the world — the highest amount ever. Other estimates put that figure as high as $1 trillion.
The report from Stockholm International Peace Research Institute (SIPRI) shows that the arms industry is thriving despite the ongoing global economic recession. American company Lockheed Martin took first place with $33.4 billion in arms sales, followed by British BAE Systems at $33.3 billion. Even as the recession hangs on in every country, more and more is still spent on the military.
Companies in the United States make up nearly half of world sales, according to the SIPRI report, with 45 of the top 100 arms-producing companies based there. Recently Russian companies have been a close second, though its figures, like those of the seventh-largest arms producer, China, are hard to verify.